Kenya 
The African Remittance Cost War Is Already Over. Wise Won.
Nigeria
Financial Services
LemFi, Nala, Sendwave, Chipper Cash, and a dozen other African diaspora remittance operators compete fiercely for market share. The RemitSCOPE average cost for Sub-Saharan African remittances was 8.2 percent in Q1 2025. Our view is that this cost war has already been settled at the infrastructure layer, and the winner is Wise. The African operators are competing over the retail presentation of rails they do not actually own.
Diaspora remittance flows to Africa reached approximately USD 100 billion in 2024, making the corridor one of the largest and most commercially contested categories in African consumer financial services. LemFi reached a USD 1 billion monthly transaction milestone in 2025 with over a million users, after raising USD 53...
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